Bringing together high-quality news, comment and analysis from the world of LexisNexis Enterprise Solutions
The New Normal features our top legal technology experts - who share individual perspectives on the strategic and day-to-day issues they face, and the unique challenges faced by their customers.
The New Normal aims to present a new light on the latest legal issues and how LexisNexis Enterprise Solutions products and services fit into the future of both the legal industry and your firm; how they can help you gain and maintain an edge; and how they enable you to fundamentally transform your business.
The ‘traditional’, oft-held view is that ‘case management’ is for high volume/low value business operations, in areas staffed by clerks, paralegals and junior fee earners, and it doesn’t fit anywhere that’s not a repetitive, ‘factory’ environment.
With high-value, low-cost and efficient service fast becoming a common expectation of clients, law firms need to achieve efficiency in ‘everything’ they do – even ‘bespoke’ legal work! A process management approach to legal business operation is perhaps the answer.
The Jackson Reforms are significantly impacting personal injury (PI) firms – the ‘no win no fee’ conditional fee arrangements are out of the door and referral fees have been banned. Profitability in personal injury cases is falling, prompting many claimant firms to diversify their practice in order to look for new revenue streams.
Why law firms should think carefully about developing IT solutions. Today, technology is at the heart of every law firm. It’s vital to improve service and optimise costs. And, as it becomes more and more ubiquitous in our everyday lives, expectations of what can be achieved are continually growing.
Many firms are exploring alternative investment options today. To successfully secure external investment, firms need to strategically position themselves as attractive investment targets. Business Management System (BMS) as a technology can enable law firms to meet investors’ selection criteria, which typically include scalability of business, firm’s growth potential and quality of earnings.